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Technology, media & telecommunications Home
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TMT outlook: Can tech spend buoyancy keep the industry airborne?
Uncertainty is mounting for technology, media and telecommunications (TMT) businesses amidst a turbulent economic and political backdrop, according to the latest research from Grant Thornton. But with businesses in other industries increasingly looking to new technologies as the path to transformation, this is also a time of opportunity. So how can the TMT industry ride out the turbulence and thrive?
- Expansion in South Africa and Indonesia
Grant Thornton announces expansion in South Africa, Indonesia and Senegal
Grant Thornton has doubled the size of its Johannesburg office through a merger with PKF Johannesburg, significantly expanded its presence in Indonesia through a strategic alliance with PT GNV Consulting Services and increased the size of Senegal operations through a merger with Excellence Consulting Group. This follows earlier 2013 mergers in Italy and South Africa.
“We are excited that firms want to be part of the Grant Thornton global network,” said Grant Thornton CEO Ed Nusbaum. “Every day, more than 35,000 Grant Thornton people in over 120 countries are working together to help dynamic organisations unlock their potential for growth.”
PKF Johannesburg will merge with the Grant Thornton Johannesburg office in South Africa, doubling that office size to more than 500 professionals and raising South Africa annual revenues to 546 million South African Rand. Both firms provide assurance, tax and advisory services to dynamic organisations – listed companies, privately held businesses, private equity backed organisations – and have a thriving presence in the public sector throughout South Africa.
Grant Thornton Indonesia has agreed to a strategic alliance with PT GNV Consulting Services (GNV), increasing strength and capabilities in Indonesia. GNV brings expertise in tax advisory services, which they provide for a range of public, family owned and international clients across a wide range of industries, including manufacturing, mining and oil & gas. The firm will continue to be led by Johanna Gani, as Grant Thornton Indonesia's managing partner, and will employ 160 people including 12 partners.
Grant Thornton Senegal has merged with Excellence Consulting Group, strengthening the firm's advisory capabilities and further establishing their position as a leader in the local market. The merger benefits clients of both firms providing enhanced service capabilities and the high quality standards that come from being part of a leading global organisation.
Earlier 2013 Grant Thornton M&A activity:
- South Africa -- Merger of Grant Thornton South Africa with Fintis and Rebahale to create an enhanced service offering for clients in the South African professional services industry. The firm now offers expanded public sector assurance, clean audit consulting, expanded IT advisory, human capital consulting and a training academy with a range of accredited and non-accredited training programmes.
- Italy -- Ria Grant Thornton merged with TickMark, formerly with the Moore Stephens network. The merger increases the geographic coverage of the firm, adding offices in Bergamo and Novara. The combined firm will have 16 offices across Italy.
Grant Thornton was named International Accounting Bulletin’s Network of the Year, largely based on leading the major global accounting organisations with growth of 10.4%, as well as strong thought leadership in the profession on critical global accounting issues such as lease accounting, revenue recognition, EU auditor reform, corporate governance and improving the auditor’s report.
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